FOOD SECURITY AND ECONOMIC DEVELOPMENT IN NIGERIA
Abstract
The study examined food security and economic development in Nigeria. To this effect, time series data for 39 years (1980-2018) was employed from CBN bulletin (2018) and world bank development indicators. Macroeconomic variables such as; per capita income (endogenous variable); food production index, food importation bill and agriculture contribution to GDP was used as the exogenous variables. The study used Auto Regressive Distributed Lag (ARDL) analysis in analyzing the long run and short run of the data. However, from the result Food production index had a positive insignificant long run relationship with economic development. This is because food production is expected to increase the productivity of the economy, reduce the importation of staple foods, and increase a Nations foreign earning. Nigeria however is still a net importer of food, thus its insignificant relationship with economic development in Nigeria. The study hence concludes that food security significantly impact on Nigeria’s economic development. And it was recommended that, Nigeria should reduce her food import bill, as that will afford her the opportunity to utilize her foreign reserve on more capital intensive imports. The government should direct and prioritize the agricultural sector, as that will not just ensure it attains food security, but will increase employment, and income to the populace.
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